According to Blockworks Research, Solana (SOL) trading-related fees exceeded $11 million on October 24, a new high. data.
This metric is called “Real Economic Value” (REV), and it includes transaction fees and MEV tips for validators.
Solana has dominated the daily trading volume in the decentralized finance (DeFi) ecosystem for 13 consecutive days. According to To Defilama.
Meanwhile, the network's decentralized exchange recorded trading volume of over $2.6 billion on October 24th.
AI Meme Coin Drives Growth
Notably, this REV peak and significant trading volume occurred amidst the frenzy caused by the intersection of artificial intelligence (AI) and meme coins.
AI Agent Truth Terminal spurred on This new on-chain transaction “meta” is what motivated the launch of the meme coin Goatseus Maximus (GOAT), where publications about the “Goatse Gospel” were. GOAT currently has a market capitalization of $650 million, with nearly $450 million moved on-chain in the past 24 hours.
As a result, a large wave of AI-related tokens overtook Solana. Memecoin-focused launchpad Pump.fun reached an all-time high of 36,339 tokens deployed on October 24, Hashed's revealed. dashboard About Dune Analytics.
The total deployed on Pump.fun accounted for over 84% of all 43,166 new tokens issued on Solana yesterday. new record.
Additionally, the Pump.fun-launched token recorded around $8.7 billion in trading volume last week, topping Solana's weekly trading volume for the first time. base Based on data from Blockworks Research.
These factors led Pump.fun to cross another important milestone on October 24th, with revenue exceeding 1 million SOL just 9 months after launch.
mentioned in this article